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UPDATE: JP Morgan Maintains Sandridge at Underweight on TPG-Axon Deal

Related SD
SandRidge Energy, Inc. Announces Increase In Borrowing Base And Extension Of Credit Facility
Benzinga's M&A Chatter for Tuesday July 8, 2014

In a report published by JP Morgan, analyst Joseph Allman maintained an Underweight rating on Sandridge Energy (NYSE: SD). JP Morgan reported that, “On Wednesday after market close, SD announced a settlement with TPG-Axon. The stock might react positively over the near term due to market optimism about possible changes ahead for the company. We expect that the board and management will be successful in making some changes. However, we think SD's high debt level and overhead expenses, even after possible spending and cost reductions, overwhelm the value of the assets.”

Shares of Sandridge closed at $5.85 on Wednesday.

Latest Ratings for SD

DateFirmActionFromTo
Oct 2014WunderlichMaintainsHold
Oct 2014Credit SuisseDowngradesNeutralUnderperform
Oct 2014BarclaysMaintainsEqual-weight

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Posted-In: JP MorganAnalyst Color Reiteration Analyst Ratings

 

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